Hemoglobinopathy Market Report

Market Insights

The Hemoglobinopathy Market is projected to grow from USD 7.3 billion in 2020 to USD 13.2 billion by 2026 at a CAGR of around 10.6% during the forecast period.

Figure: Hemoglobinopathy Market Size, 2020-2026 (USD Billion)

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What is hemoglobinopathy?

Hemoglobinopathy is defined as a genetic disorder that causes structural abnormalities in hemoglobin molecules, particularly defective globin chains. The disease is highly prevalent in Africa, Southeast Asia, and the Mediterranean basin. It can lead to certain other diseases if left untreated such as anemia, organ dysfunction, or death.

Key Players

Key players operating in the Hemoglobinopathy market are-

• Abbott Laboratories (US)
• Bio-Rad Laboratories, Inc. (US)
• Danaher Corporation (US)
• Mindray Medical International Limited (China)
• Nexcelom Bioscience (US)
• Nihon Kohden Corporation (Japan)
• PerkinElmer (US)
• Siemens Healthineers AG (Germany)
• Sysmex Corporation (Japan).

Market Dynamics

The growth of the hemoglobinopathy market is primarily driven by the increasing prevalence of sickle cell disease (SCD) and thalassemia. Rising initiatives aimed at creating awareness among consumers regarding the prevalence of sickle cell diseases are likely to drive the market growth further. In addition to this, increasing investment in research and development activities to develop novel therapies is likely to create lucrative opportunities for the players operating in the global hemoglobinopathy market in the coming years.

Segments' Analysis

End-Use Trends

By end-use, the hemoglobinopathy market has been bifurcated into hospitals, diagnostic laboratories, and clinics. The hospitals' segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment can be attributed to the presence of established healthcare infrastructure and professional staff.

Regional Trends

By region, the North American market accounted for the largest market share in 2020 and is projected to grow at a robust CAGR during the review period. This can be attributed to rising consumer awareness and growing emphasis on the adoption of novel therapies to treat sickle cell disease coupled with the presence of key market players such as Abbott Laboratories (US) and Bio-Rad Laboratories, Inc. (US). The market growth in Asia-Pacific is expected to be driven by an increasing number of people suffering from sickle cell disease and thalassemia.

COVID-19 Impact on Hemoglobinopathy Market

The covid-19 outbreak posed significant challenges across verticals worldwide. It impacted the growth of the hemoglobinopathy market negatively as the therapeutic procedures declined due to fear of coronavirus infection. Also, supply chain disruptions due to the imposition of lockdown affected the product availability on time and thus, affected the market growth. 

Critical Questions Answered in the Report

• What are the key trends in the Hemoglobinopathy market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the Hemoglobinopathy market?
• What are the key strategies adopted by the major vendors to lead in the Hemoglobinopathy market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the hemoglobinopathy market hopes to have the greatest opportunity to convert-

• Hemoglobinopathy distributors
• Hemoglobinopathy suppliers
• Hemoglobinopathy manufacturers
• Logistics organizations
• Government bodies

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